Point72 Asset Management L.P. Has $14.26 Million Stock Position in Greif, Inc. (NYSE:GEF)

Point72 Asset Management L.P. grew its holdings in Greif, Inc. (NYSE:GEF - Free Report) by 7,222.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,370 shares of the industrial products company's stock after purchasing an additional 230,183 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.49% of Greif worth $14,264,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Moran Wealth Management LLC purchased a new stake in Greif in the 4th quarter valued at approximately $2,594,000. Foundry Partners LLC acquired a new position in shares of Greif in the fourth quarter worth $448,000. William Blair Investment Management LLC lifted its position in shares of Greif by 2.1% in the fourth quarter. William Blair Investment Management LLC now owns 535,932 shares of the industrial products company's stock valued at $32,756,000 after acquiring an additional 11,210 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Greif by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 568,725 shares of the industrial products company's stock valued at $34,760,000 after acquiring an additional 44,088 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Greif by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 801,429 shares of the industrial products company's stock valued at $48,983,000 after acquiring an additional 17,425 shares during the last quarter. 45.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Greif

In other news, Director Frank Calhoun V. Miller purchased 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $58.50 per share, for a total transaction of $58,500.00. Following the completion of the purchase, the director now owns 1,000 shares of the company's stock, valued at approximately $58,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David C. Lloyd sold 2,263 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $55.24, for a total value of $125,008.12. Following the sale, the vice president now owns 7,580 shares in the company, valued at $418,719.20. The trade was a 22.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GEF shares. Robert W. Baird decreased their price target on shares of Greif from $75.00 to $68.00 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Truist Financial decreased their target price on shares of Greif from $65.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lowered their target price on shares of Greif from $76.00 to $75.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.50.

Greif Trading Down 1.3%

Greif stock traded down $0.72 during trading on Friday, reaching $54.68. The company had a trading volume of 10,289 shares, compared to its average volume of 169,991. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.02 and a beta of 0.94. The stock's 50 day moving average price is $53.85 and its two-hundred day moving average price is $59.69. Greif, Inc. has a 12-month low of $48.23 and a 12-month high of $73.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.53.

Greif (NYSE:GEF - Get Free Report) last issued its earnings results on Wednesday, February 26th. The industrial products company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.33). The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. Greif had a net margin of 4.81% and a return on equity of 11.84%. As a group, equities analysts expect that Greif, Inc. will post 4.11 earnings per share for the current fiscal year.

Greif Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Monday, March 17th. Greif's dividend payout ratio is presently 61.71%.

Greif Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.